Middle Ural Development Corps net loss exceeds 1.5bn RUR in 2014

March 26, 2015. Middle Ural Development Corp (run by Sverdlovsk Region Ministry for Public Property Management) incurred 1,514,716,000 RUR worth of net loss in 2014, whereas twelve months earlier, the company finished the year 2013 off with 4.159m RUR worth of net profit, the issuers annual accounting report states.

According to this report, the company set up bad debt reserves (520,634,930 RUR all in all) last year to back up such projects as Low-Rise Construction Center, High Speed Railway Network 2, and Ural Exhibition Center.

The corporation paid 28,292,256 RUR worth of bonuses to its management in 2014; there were twenty-three people working for the company at that moment.